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GoGold Intersects 4.2m of 559 g/t Silver Equivalent and 23.2m of 163 g/t Silver Equivalent at San Juan

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GoGold Intersects 4.2m of 559 g/t Silver Equivalent and 23.2m of 163 g/t Silver Equivalent at San Juan

 

 

 

 

 

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to release the assay results from 8 diamond drill holes at the Los Ricos South Project, including 3 at San Juan and 5 at the Main Area of the project.  The positive results continue to show the strength of the Los Ricos South Project in the Company’s Los Ricos district.

 

Hole LRGG-20-143 was drilled on section 700N in the San Juan area of the project and intersected the Los Ricos quartz vein from 12.5 to 35.7m.  The 23.2m intersection averaged 163 g/t silver equivalent, which consisted of 113 g/t silver and 0.68 g/t gold.  The intersection included 11.7m of 224.5 g/t silver equivalent, or 2.99 g/t gold equivalent.

 

“The results we’re seeing at the San Juan area of Los Ricos South are very promising, as this is at the northern end of that project.  As we continue to see strong results from Los Ricos South, we are encouraged that these are only the first results of the many targets which we plan to explore along the 35km trend in the Los Ricos District.  We look forward to testing these in the near future, which bodes well for the continuing prospects of this exciting district and our shareholders,” said Brad Langille, President and CEO.

 

Hole LRGG-20-145 was drilled on section 750N in the San Juan area and intersected 22.3m of 128 g/t silver equivalent near surface, consisting of 52 g/t silver and 1.01 g/t gold.  The intersect included 10m of 198 g/t silver equivalent, or 2.64 g/t gold equivalent.

 

Hole LRGG-20-146 was drilled on section 550N in the Main area and intersected 4.2m of 559 g/t silver equivalent from 249.4 to 253.5m.  The intersect consisted of 344 g/t silver and 2.87 g/t gold.  The hole also intersected 10.9m of backfilled stope from 238.5m to 249.4m, prior to intersecting the mineralized interval.

 

Detailed intersections are listed in Table 1, and the hole locations are shown in Table 2.

 

A longitudinal section summary of all the holes drilled at Los Ricos to date is available at

https://gogoldresources.com/component/rsfiles/preview?path=diagrams/LosRicos_LongSec_20200429.pdf

 

Table 1: Drill Hole Intersections

 

 

                   
Hole ID Area Section From To Length1 Au Ag AuEq2 AgEq2
      (m) (m) (m) (g/t) (g/t) (g/t) (g/t)
LRGG-20-142 Main3 225N 136.3 161.4 20.1 0.33 99.8 1.67 124.9
  including   136.3 142.3 6.0 0.97 257.2 4.40 330.1
LRGG-20-143 San Juan 700N 12.5 35.7 23.2 0.68 112.6 2.18 163.4
  including   19.7 31.3 11.7 1.00 149.9 2.99 224.5
LRGG-20-144 Main 450N 47.7 74.3 26.6 0.29 47.5 0.92 69.3
  including   48.8 53.5 4.7 1.24 128.7 2.95 221.4
LRGG-20-145 San Juan 750N 3.8 26.1 22.3 1.01 52.4 1.71 128.2
  including   3.8 13.8 10.0 1.79 63.9 2.64 198.0
LRGG-20-146 Main 550N 249.4 253.5 4.2 2.87 343.8 7.45 558.7
LRGG-20-147 Main 675N 9.0 24.4 15.4 0.79 91.1 2.00 150.0
  including   9.0 14.3 5.3 1.54 135.2 3.35 250.9
LRGG-20-148 Main 600N Hole suspended at 498m due to COVID-19 stoppage
LRGG-20-149 San Juan 775N 194.2 219.7 25.5 0.07 14.4 0.26 19.2
1. Not true width        
2. AuEq and AqEq converted using a silver to gold ratio of 75:1        
3. Excluding 5.0m of open stopes from historical underground workings.        

 

 

Table 2: Drill Hole Locations

 

 

Hole ID Easting Northing Elevation Azimuth Dip Length
LRGG-20-142 610627 2327517 1244 50 -65 211.4
LRGG-20-143 610398 2327945 1304 50 -20 51.0
LRGG-20-144 610558 2327753 1301 50 -45 102.0
LRGG-20-145 610362 2327980 1298 50 -20 54.0
LRGG-20-146 610644 2327956 1465 230 -45 261.0
LRGG-20-147 610417 2327929 1311 50 -20 42.0
LRGG-20-148 610077 2327545 1260 50 -65 499.0
LRGG-20-149 610163 2327846 1256 50 -65 242.4

 

 

Los Ricos Exploration Projects

 

Drilling at the Los Ricos projects is temporarily suspended due to COVID-19 to ensure the safety of the Company’s employees, contractors, and surrounding communities, in compliance with the Mexican Federal government’s mandate that all non-essential business temporarily suspend activities.  The Company continues to receive assaying results on drill holes completed previous to the suspension of drilling, which are in the assaying process.

 

The Company’s two exploration projects at its Los Ricos property are in Jalisco state, Mexico.  The South Project began in March 2019 and includes the ‘Main’ area, which is focused on drilling around a number of historical mines including El Abra, El Troce, San Juan, and Rascadero.  The South Project also includes the Cerro Colorado and Las Lamas targets.  The North Project was launched in March 2020 and includes the Monte del Favor, Salomon, La Trini, and Mololoa targets.  

 

Procedure, Quality Assurance / Quality Control and Data Verification

 

The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work. 

 

The sealed and tagged sample bags are transported to the ActLabs facility in Zacatecas, Mexico. ActLabs crushes the samples and prepares 200-300 gram pulp samples with ninety percent passing Tyler 150 mesh (106μm). The pulps are assayed for gold using a 50-gram charge by fire assay (Code 1A2-50) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code 1A3-50). Silver and multi-element analysis is completed using total digestion (Code 1F2 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (Code 8-Ag FA-GRAV Ag).

 

Quality assurance and quality control procedures monitor the chain-of-custody of the samples and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data.  All results stated in this announcement have passed GoGold’s QA/QC protocols.

 

Mr. David Duncan, P. Geo. is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information of this release. 

 

About GoGold Resources

 

GoGold Resources is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico.  The Company operates the Parral Tailings project in the state of Chihuahua and has the Los Ricos exploration project in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects.

 

Posted April 29, 2020

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